Sergio Marchionne has died at the age of 66. He was the chief executive officer of Fiat Chrysler Automobiles until recently when the company replaced him. The reason was the sudden decline in Marchionne’s health.
“Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone,” FCA Chairman John Elkann, of the controlling Agnelli family, said in a statement.
“The best way to honour his memory is to build on the legacy he left us, continuing to develop the human values of responsibility and openness of which he was the most ardent champion,” Elkann added.
According to unofficial information, Marchionne suffered a cerebral embolism during an operation in Zurich. The surgery was to treat an invasive shoulder sarcoma, anonymous sources explained. Marchionne had for several years suffered shoulder pain and was subsequently diagnosed with an invasive shoulder sarcoma, the severity of which he concealed from his colleagues while he underwent treatment. The shoulder surgery was part of this treatment, a high-risk operation.
Sergio Marchionne dies at 66
Chase Carey, Chairman and CEO of Formula 1 said:
“He was a great leader of not just Formula 1 and the automobile world, but the business world overall.”
“He led with great passion, energy and insight, and inspired all around him. His contributions to Formula 1 are immeasurable. At this difficult time, we extend our deepest sympathies to his family, friends and colleagues.”
Jean Todt, FIA President, said: “It is with great sadness that I learned that Sergio Marchionne tragically and unexpectedly passed away. Sergio achieved a colossal amount for the automotive industry and motorsport worldwide. He dedicated himself fully to turn around the FIAT-Chrysler group and put all his energy to bring Scuderia Ferrari back to the top. He was an endearing, upstanding and brave man, an unconventional and visionary leader [as well as] an eminent member of the FIA F1 Strategy Group and of the FIA High-Level Panel for Road Safety. His death is a considerable loss. On behalf of the entire FIA community, all my thoughts go out to his family, his friends and his Ferrari and Fiat-Chrysler group teams”.
Sergio Marchionne was born on June 17th 1952 in Chieti, Abruzzo. At the age of 13, he emigrated with his family to Toronto, Canada. His career began at Deloitte and Touche in Canada as an accountant.
Marchionne became CEO of Fiat Group in 2004 and later to the Fiat Chrysler Automobiles company
He managed it for 14 years. He revived the companies while working to turn them into profitable businesses. Under his leadership, FCA became the seventh-largest automobile manufacturer in the world. Marchionne had a reputation as an outspoken manager as well as blunt when necessary. While describing himself as a corporate fixer, he was utterly practical. Marchionne also had his own managerial style and never shied from severe measures. He also had a distinct way of dressing, preferring pullovers and jeans to suits.
